Does creating a new product ever feel like draggng your feet in the mud? Do you wish things could move a little... faster?
Has a new product ever bombed when exposed to market forces?
Validate your ideas with real market data, and create a culture of fast successful innovation. Book your free innovation consultation now...
You're in the right place if you want to:
Dear fellow intrapreneur...
You want to innovate. You want to create a breakthrough product. You've got great talent, and a budget. In fact, you've got an entire run-book of ideas you want to test.
But you're nervous. You've experienced innovation catastrophe in the past. Great ideas that flopped when exposed to real market forces.
Over 40% of product launch failures are caused by missing data, and unvalidated assumptions. In other words, not building something a client (other than the product team) actually wants.
So what is this 'missing data', and how do you gather it when your customer is an internal one?
My name is Luke Szyrmer, I'm what you might call an 'intrapreneur' (an 'internal entrepreneur'). I've experienced the pain of a failed product first hand, at significant personal expense. The challenges I faced led me out of my corporate dayjob, and into the world of Lean Startup.
I wanted to know: how can we innovate as fast as any start-up?
How do you create a culture of innovation, when people around you want to just keep doing what they know works?
How do you select the right risks to take, to make real progress happen?
I now help ambitious product managers and 'intrapreneurs' to innovate faster and more effectively, using the insights I gained from Lean Startup. If you want to test your assumptions, move quickly and build a culture of innovation, you're in the right place.
In any new product development, you're always going to have missing data. Most likely, that's data you're not gathering or noticing, because it doesn't fit your assumptions. At the same time, you're making decisions about how a product should be built and how it should work.
I call this the 'corporate echo chamber'. When everyone around you echos the same assumptions, you must validate them with market data.
Which is easier said than done. Identifying your own assumptions is like trying to look at the end of your nose. You'll get a glimpse here and there, but it's easier to have someone point them out.
Next, how do you gather market data when you spend your days working with internal customers? That's something I can help you with too.
Ultimately, you need to deliver value not features.
There are plenty of competitors who are willing to work faster, make mistakes, recover and beat you with a better product. All before you got the final go-aheads and sign-offs to start gathering your first product requirement.
Most corporate 'innovation' is characterised by political maneuvering behind closed doors. Discover a better approach - book your free innovation consultation now.
"I've had ideas where I just started implementing, and I now know for sure that this kind of exercise would have been extremely useful.
The biggest single most important single thing you need to do is really understand the customer. This exercise was all about understanding the customer which I feel is even more important than I thought before.
When you know which questions to ask and who to ask, your idea often turns out totally different.
I think it was stimulating. Several times we even used the word 'eye opening'. I wouldn't say scary because yes, we came out maybe knowing less than we knew before. We now know that we need to know a lot more things that we don't know!
I used to work on assumptions, because I think I have so much experience. This process makes you challenge yourself and your assumptions. I think that's very valuable."
Michel Brolski-Rohozinski Entrepreneur & Former Marketing Director at Mars & British American Tobacco
It isn't enough to create an innovative product based on market data... new feedback must be operationalized too (even if it doesn't fit with how things are currently done).
My question to you is this: are you in a position to run a new product test every month?
If you were, what impact would it have on the profitability of your company? What difference would it make to consistently deliver products your customers value? (And on a purely personal level, what difference would that make to your career, and day-to-day satisfaction?)
It's possible to make fast changes, even at the biggest companies. But you're going to need help. This isn't a battle to fight alone...
I offer a limited number of free 30-minute innovation consultations each week. The purpose of this call is to tell me more about your situation, and the challenges you face. There's nothing to pay at this point... no purchase order to raise, and absolutely no obligation. If I don't think I can help, I'll say so up front. My guarantee for the call is you'll get at least ONE innovation insight you can immediately apply to your work. Ready to uncover that insight? Book your free innovation consultation here.
All projects start with a free innovation consultation to discuss your needs in detail.
If we don't think we can help, we'll say so up front. We'll never sell you support you don't need.
Satisfaction guaranteed - or money back. We're here to help, not absorb your budget.
US: (+1) 650 488 8171 UK: +44 (0) 773 851 7708 Europe: +48 692 870 297